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we're really engaging diplomatically with china and other members of united nations security council on tougher resolutions and possibly sanctions. >> making any progress? >> you have to talk to the ambassadors in new york and the sea to figure out what is going on. -- d.c. to figure out what is going on. >> in beijing, what is the view among the leaders you can tell of kim jong-u7n? -- kim jong-un? >> china would like all the parties that are part of this sixth party talks her to get back to the table, to see if we can encourage better behavior from north korea as opposed to imposing sanctions now and trying to coerce north korea into the fold. that is a difference of opinion of strategy. china really believes we ought to be engaged with north korea. united states feels every time we've tried to engage with north korea, they basically turnaround and failed to respond. >> what is the most important thing the chinese leaders want from you every day? >> the want greater cooperation with united states, because the understand how important united states is for their own economy.
and this brings back sweet memories of when china was very isolated during the cold war. in the end, there's a whole new generation of people who have been much more sophisticated understanding, but that i would say it's a very strong autonomic response to the united states beefing up its forces in australia and then they wake up one morning and burma has flipped on them. it was eternal in terms of their faithful allies. these things caused a lot of consternation. so the old fear of diagnostically speaking in china is to fear with sand and travel without. these things happening around them excite them. >> how much does it add to that anxiety is that all? >> is the most problematic relationship now in japan and this is not good. i have to say i think japan probably hasn't played this as well as it might have, but i think on the other hand it would be fair to say also that it serves china's purposes to have something happening outside his orders which can rally people at home. there's a lot of complex things going on in each of these reactions to foreign movements outside. >> which ma
of trade, as well. yes, an ipad in china gets made and it's value point $50. but it's only about $20 of that that goes to china and the rest goes back to the u.s. we'll get into the dynamics of trade, as well, and how we measure it. we'll also be joined by the ilo director general, as well, guy rider. we'll hear from the head of the world intellectual property organization. so it's a big trade day here from geneva on "worldwide exchange." lots of great things to get into. and by the way, 157 members of the wto, shortly to be 158. kazakhstan today should get the approval, all 157 ambassadors are here. they will get approval later this afternoon. so an ever expanding membership base. >> kazakhstan being just the latest. plenty more from ross straight ahead on the program. in the meantime, we want to check in our how markets are doing. so much attention on italy. in particular, you can see the message broadly speaking this morning is in negative, we're seeing about a four to one outpacing decliners versus vapsers here. the stoxx 600 is down abo about .37%. let's take a look across the t
in china is starting to develop a taste for french wine. investors are seeing new opportunities in the big wine regions, and not unexpectedly, it is a development which is not popular with some of the french. >> it seems everything she turns her hand to is a success. she is one of china's biggest celebrities -- singer, model, actress -- and now honor of a prestigious french vineyard. it was in french hands for four centuries before the chinese came. in china, red wine has become the latest new thing, and increasing numbers of chinese are heading to france to invest in their very own vineyard. >> i tried several other lines before, but when i came here, everything was just right -- the building, the surroundings, everything. i fell in love with the place straightaway, and the wine. >> time for a toast with the previous owner, who is obviously pleased with the sale. the purchase price is undisclosed. chinese buyers often pay much more than the norm. even if they do not understand each other, everyone understands the language of money. business is conducted through an interpreter. >> people i
allegations. >> and we'll be on the floor in beijing where china's leaders just wrapped up a major conference. >>> and japan's prime minister election is calling on the bank of japan to heed the call of the masses. abe is beating the heat on the boj just one day after his party's huge win and two days after the bank's next rate setting meeting. kaori enjoji has the latest for us. how much of a game changer is all this? >> this is a serious game changer. it's a comeback for the dlp and shinzo abe. he has made it clear that the economy and economic recovery is going to be one of the pillars and hallmarks of his second time in office and he's wasting no time in piling on pressure on to the bank of japan who holds, of course, their two-day policy board meeting later on this week. here is what he had to say. >> i have constantly stressed our desire to present a policy accord in raising the inflation target to 2%. i do think it is unusual for monetary policies to come to the forefront during elections, but we have been able to gain much support for this. i hope the bank of japan will take this resu
the results of that in around about 30 minutes. >>> and china and india secretary growth slowed in november. analysts say china and india's nonmanufacturing team expected to improve thanks to a hiring boost in the mainland as well as strong new orders in india. at the same time, china's new leadership, as we pointed out, has laid out some fresh directives. >> these are some pretty sweeping reforms making china's famously inefficient bureaucracy more efficient. it's an effort to "win the confidence and the support of the people" as public backlash rose against the special treatment of politicians. so a new list of dos and don't's for chinese leaders. on the do side, cut down on giving face. the art of extreme flattery or reverence, which results in some very long meetings and speeches. keep them short and cut down on the lavish feasts. he's also encouraging more travel to rural parts of the country where the real problems are. on the don't's side, stop the empty talk. in china, niceties are often more formal and exaggerated than west. another one is don't stop traffic. if you've ever been to
economies due to the european downturn and cooling ties with china. another negative factor is the drop in domestic car sales because state subsidies for buyers of fuel efficient cars expired in september. for the nonmanufacturing sector the sentiment index was down by four points from the previous surv survey. looking aahead the to the next three months, major manufacturers expect a slight improvement as they hope the u.s. and chinese economies recovery. they're concerned that cooling consumer sentiment will persist. japanese shoppers are spends less, and that's got retailers depress depressed. as tremendous to try get people to spend more some may fuel a price war. >> reporter: major supermarket chains have slashed t prices over the past three months on more than 350,000 products. >> translator: customers are become increasingly price conscious. we hope discounts on daily necessities will encourage them to visit more often and boost our sales. >> reporter: furniture manufacturers are opening a 10% to 40% discount on nearly 900 items. >> translator: consumer spending in the overall eco
. will the president step in? . detroit voted for him, the unions, mr. obama is there, what is he going to do? china is here buying part of the bailed out aig, buying 123 battery company and buying american mansions. that's what happens when china has the money and we've spent all of ours. or losing money can pop up anytime. that's why she trades with the leader in mobile trading. so she's always ready to take action, no matter how wily... or weird... or wonderfully the market's behaving... which isn't rocket science. it just common sense. from ameritrade. i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way to get a holid deal is to camp out. you know we've been open all night. is this a trick to get my spot? [ male announcer ] break from the holiday stress. save on ground shipping at fex office. >> two big stories coming together today in michigan. first off, the new right to work rules will become law tomorrow. the unions are absolutely furious out protesting yesterday and big demonstrations still to come. listen to this. >> and tuesday, they're
with modest gains. europe holding onto gains and china up nearly 3% over night as shanghai catches a break. our road map begins with a $20 billion deal. freeport mcmoran getting into the energy business making two acquisitions. plains exploration and mcmoran exploration. >>> concerns over the u.s. economy as adp misses estimates. the blame goes to superstorm sandy. goldman says the party is officially over for gold. >> starbucks at an investors conference will add 1,500 stores in the u.s. over the next five years. wait until you hear what they said about china. >> a big day in media. pandora ceo joins us live later this morning as the stock fell nearly 20% on weak guidance and netflix signs a big exclusive with disney. how much are they having to pay up for that? >>> let's deal with this big deal. as i've been telling you we'll see a lot of big deals -- i was wrong. here we are. freeport mcmoran buying not one but two companies. the combined price if you add it all together gets close to $20 billion. that does include debt. let's go through some of the details. it's somewhat complex. let's
particularly the china pmi numbers and what we've seen from gdp recently that maybe some of the markets key to u.s. exporters may be showing signs of stabilizing, maybe get to growth. so that might mean moderation in the eurozone might ease in the first quarter. but again, this is all dependent on what happens with that ongoing debt crisis and any step back in resolving that would obviously have a knock-on effect to the economy. >> i'm wondering whether germany as we look at -- they're just above sort of recession territory at the moment. i'm wondering whether if they get better growth out of asia, that will offset the weakness that they're seeing in europe enough to keep them above the pencil line. >> what we've seen so far with today's numbers is exports are declining very sharp. they'll need asia and the u.s. to offset some of that demand weakness, but again, the biggest market for most is the euro zone. if the eurozone is performing badly, that will have a thok-on effect for those countries. >> there's a number of strategists saying after the u.s. has sort of led equities for most of th
china, who are looking to part with lots of cash. >> he spent years living in china. he understands the language as well as the mentality of the chinese. for the past few months, he has been a sales consultant at frankfurt international airport where he assist chinese customers, for example, with the purchase of a camera. few speak english, although this customer is an exception. >> i am a part-time photographer. i use a cannot -- canon and nikon. >> many passengers arrive at the airport several hours before their flights and do a lot of shopping, but they often struggle with the language. his task is to act as an intermediary between shoppers and sales personnel. >> some are very surprised at first. they are not used to a westerner speaking chinese at the airport, but they are delighted. many want to browse on their own, first. the chinese have very different taste. >> weather it is luxury goods or everyday products, the chinese are interested in almost everything. they especially like the duty- free stores. this customer says she bought some cosmetics and jewelry. she says everyth
line of mac computers in china, apple is set to bring some of its manufacturing jobs back home to the usa. is this a political move or is this a clear-cut economic manufacturing move? here to discuss is "forbes" columnist and china export gordon chang, the author of "the coming collapse of china." serious question, do you think actual's doing this for politics or economics? >> actually both. but when you look at china, though, their manufacturing days are over. americans are less produmore pr less prone to strike -- >> are you sure american works are less prone to strike? we've reported on this show a whole bunch of strikes, including the hostess twinkie companies, the ports of los angeles and out on the west coast. we have obama in the white house. the unions are going whild here. in all seriousness, i don't think unions are any more placid here than they are in china. >> but in china, workers go out on wildcat strikes all the time. foxconn which manufactures about 97% of apple's products, they've been really subject to labor troubles, from suicides to strikes. so i think appl
. >> turmoil in italy. berlusconi throws his hat in the ring. retail sales numbers out of china, hoping the economy is in fact on an upswing. >> apple, enthusiasm. jeffreys trimming its price target to 800 from 900, as apple shares do trade lower in the pre-market. we'll start with mcdonald's, posting better than expected november same-store sales, global comps up 2.4. u.s. same-store sales up 2.5, offered by breakfast offerings, including that cheddar/bacon/onion sandwich, as melissa mentioned. jim? people are saying the u.s. maybe is making a turn here. >> i find mcdonald's is levered to new products, levered to menu technology. they do invent things. my hat's off to janet. they had this number last week. reminds people, again, they've been right down, and up. mcdonald's is one of those things where joe asked me from squawk when we were talking, i said, i think this is a for real term. if they continue to innovate. i may this may not be your cup of tea, burger, but innovation s higher. >> they tried to sell it to consumers as opposed to their extra value menu, which is a little bit hi
.s. has slapped duties on wind turbine towers on china on price its says were unfairly cheap. this comes as washington welcomes a high-level chinese delegation led by the vice premier. his team is in the u.s. to talk trade and economy. he's expected to meet with u.s. treasury secretary tim geithner tomorrow. wang is the first official from the new leadership team to visit with the u.s. for more on the impact and implications of this, let's speak with frank ching, adjunct associate professor at the chinese university of hong kong. frank, hi. the first news that we're getting out of this appears to be more import duties s. this going to be the theme of u.s./china relations, or do you expect these meetings to be more of a thaw? >> well, i think that these are the first meetings since the new leadership in china was installed. and since president obama saw -- well, won second term. i think both sides want to make use of this occasion to improve their relationship. so this joint annual meeting is a platform, and i think that they will probably be able to achieve some progress on issues of con
.s. in general is looking positive. and the u.s. is creating a lot more jobs. china is still positive in the fourth quarter. china is going to show a slow and steady improvement. so we need those. >> higher expectations stronger in the likes of taiwan, india and brazil. let's go back to where you say they're weakest. greece, italy, spain, the netherlands. this is a very weak feature, indeed. how bad in it? >> it's bad. the eurozone is the global economic problem now. if you look at asia where i just returned from, both countries are feeling optimistic. but they seem to be inwardly focused now by being a triangle of china, india, indonesia. we're not seeing a great benefit into europe as we did before. for instance, germany is looking pretty pessimistic. based on its lack of export performance to places like china. >> yeah. when the bundes bank came out and shortly downgraded forecasts, how is the employment picture? if you've got a relatively healthy china and the u.s. consumer bounce back, wouldn't that help germany? >> it certainly would. germany is relatively flat in terms of the e
to china's extravaganza. most charismatic, pat? >> rg3. redskin rookie of the nfl. maybe mvp. has set this city on fire. >> marco rubio. senator from florida whose articulate to the point of almost being dem ogic. . but he is a riveting speaker and he has a future. >> are you afraid of him. >> no. i just pointed out his attributes. >> he is richly republican. you know that? >> right. but the democrats have their bench, too. >> i mean, after that, you know, the democrats still going to embrace you? >> i still think that bill clinton's speech at the democratic convention was the most exciting moment of that convention. turned around the whole convention and once again revealed the great talents of bill clinton. >> does he save it? >> you are showing your brilliance again. >> i absolutely agree. a better job than barack obama did. >> i want to add to the clinton tribute. the most charismatic bill clinton. for stellar performance of the democratic national convention. his 40 minute speech was critical for a second term for barack obama. it redefined the global economic crisis. he describ
up personal computer sector? >> manufacturing data out of china. not bad. 50.6. that's the highest in seven months. although shanghai again trades lower even europe's pmi improves a touch in november. first up, we're one month away from the fiscal cliff and so far the white house and congressional republicans are still in disagreement over how to reduce the deficit and avoid a raft of tax hikes and spending cuts. yesterday our own jim cramer and maria bartiromo were on "meet the press" and cramer had a message for fellow panelists and father of the anti-tax pledge, grover norquist. >> most ceos are republican. they're on board. they're not on board with you. they're not on board with you because they fear your view. they think you do not favor going -- you favor going over the cliff. that's what they think. they think that you favor -- >> just for the record since we're on tv. that's silly if they think that they shouldn't be ceos. >> it doesn't really matter. that's what they think. >> i want you to walk me up to that moment. >> behind the record. i like that too. >> i'm stuck. li
't an accord in congress. >> we will always have china. manufacturing pmi data from last night is the best in 21 months. can we finally say the chinese economy has been stabilized. >> but of course, we start in washington. as you know, congress comes back today. the house gaveling into session now with legislative business starting at 10:00 a.m. the senate returns at 11:00 a.m. eastern. there are only a few hours left to get a deal done. eamon? >> you're already hearing people talk the way they talk on new year's day. a lot of people wish they could go back in time and do things differently. that's the way people are talking in washington about this fiscal cliff. feeling as if this thing suddenly got off the rails. take a listen to mitch mcconnell last night talking about the pace of the negotiations here and the frustration that he's experienced going through all of this over the weekend. take a listen. >> now, i'm concerned about the lack of urgency here. like we all know we're running out of time. this is far too much at stake for political gamesmanship. we need to protect the american
with envoys from japan, the united states, china, and russia, all members of the six-party talks on north korea's nuclear program. details of the meetings haven't been released, but it's believed the five nations discussed ways to convince officials in pyongyang to cancel the launch. south korea plans to send two aegis vessels capable of tracking missiles to the yellow sea to observe the launch. the monitoring will be done in coordination with u.s. forces. defense officials in seoul are also considering raising the country's alerstatus by one notch. japan's self-defense forces are on the alert in advance of this possible missile launch. the maritime sdf vessel carrying pac-3 missile interceptors has left its home port in hiroshima bound for okinawa. the pac-3 surface-to-air missiles are capable of shooting down debris should it come near the ground. the interceptors will be placed at several sites in okinawa. defense ministry officials expect the missile's flight path could take it over the islands of okinawa. commanders say they'll deploy aegis cruisers in those waters. they say they wou
a million reasons, well, it's a nokia phone, well, it's china. ipad miniis available. this is a stock that's so widely owned. it reminds me of sirius satellite. every doctor, every dentist owns apple. they don't know the price per share, they just know it is the proxy for the market. >> they just accelerated dividends. but i think we're talking now 150 companies in some fashion have accelerated or put forward a special dividend. you put forward a special market share, china is 76, with the market share at least. >> is it a disappointment that apple did not pay a special dividend? is that part of this? >> there was some of that. >> there was some expectation? not that they ever gave any voice to it. they never said a word about it. >> true. >> look, it is widely owned if the stock were -- it's obviously, here's the stock that went from 70 to 50, maybe it goes to 48, 45. everybody who doesn't know what apple is, other than the fact that they use an imac or iphone are selling it. and, look, if you're a hedge fund manager you went from thinking i have to own it, or i have to short it. . >> in
other. they discovered they were twin sisters separated from birth in china it is against the one of the girls was given up for adoption. they share mannerisms and they were married in the same year. the husband has the same first name. >> steve: and they dress alike. >> gretchen: what a fantastic story. the rest of the headlines ttook over 50 years for the murderer of a 7 year old to b brought to justice. jack mccullah will be sentenced for the murder. it is one of the oldest unsolved crimes. he was dismissed as a suspect but arrested last year after the investigation reopened. >> steve: meanwhile a 22 year old woman in oregon jumped in her car and drove off after two kids tried to rob her at gun point. the boys later to be found 7 and 11 years old. demanded money and her phone. >> i was afraid he would shoot my tires or window. i didn't think i was safe. >> brian: the boys were caught and turns out the gun was not loaded it is not known how they got the gun. they were turned over to their familis and the case is expected to go to jv court. >> brian: two students are accused of b
on "varney & company," apple says it sold a record 2 million 3 c1 iphone 5's this weekend in china. still, one citigroup analyst down grades the stock and says it's got a much lower price target. there are also rumblings about orders for its products this christmas. all right, so, nicole, did we break below 500 bucks this morning? >> we did. we broke down on apple shares below $500 for the first time since february. but in that same breath, i can talk about the fact that their iphone sales over in china broke records on the rollout. stuart: okay, but right now, i'm seeing it expected to open around $510 a share. >> right. stuart: but i did see it pre-market at 499. just for a brief spell so we broke below very briefly and now we've broken back up again. >> and you have that citigroup downgrade which just piles on to the other analysts who have lowered their expectations on apple. stuart: and there's a switch. all right. john boehner bends and makes the president an offer and it includes higher tax rates on the rich. boehner's proposal, higher rates on incomes over a million dollars a year
china. >> i think you saw the chinese make clore their opposition to this launch, prior to it and the regret over the fact it took place after it happened. >> we are very much ready to engage with our colleagues on the council. we will be searching for a clear and credible response. >> kim jung un is expected to capitalize on the boost of the internal standing that the launch provided to move to conduct another nuclear test. five years ago, then senator obama vowed for diplomacy with dictators like kim. >> would you be willing to meet with the leaders of iran, syria, venezuela, cuba, north korea? to bring the gap the divides our countries. >> i would. the reason is this. the notion that somehow not talking to countries is punishment to them, which has been the guiding diplomatic principle of this administration is ridiculous. >> yet, it was under the bush administration that the six party talks were launched and achieved the notable success. north korea demolition in 2008 of a water cooling tower used in the nuclear programs. with the obama administration ruling out dire
and move it over to china, cut your wage rate by 80%, produce there, bring the products back into the united states and then the huge new profits you make, share those with your shareholders and the executives. and that's where i disagree this globalization, free trade. they have really been unfair. one place i agree with hoffa. he was with me in the 90s. they are bringing mexican trucks into the united states, driving them on american highways, mexican drivers into rounder-cut american teamsters. i think that's wrong. i think the teamsters -- >> greta: yeah, yeah. but the united states is fighting that, they are shifty. they were saying that they were trying to prevent the trucks from coming into the country not as a trade issue, but saying it was a safety issue. there are a lot of games that the u.s. played on that. >> we weren't playing games. i said, why can't you make american teamster who is make high wages, they can't compete with a teamster in mexico who makes a fifth of the salary, driving on american highways. i think hoffa was right. but when they talk about a civi
.n. security resolutions. he also talked about china's decision to the aircraft carrier in the obama administration shifted À la terry resources for the pacific region. this is a half-hour. >> well, good morning and allow hot. i am glad to be here to talk to you about the pacific command, where we are today to where we see ourselves heading in the future. since the last time i was here, we continue to move forward on the rebalanced initiative after as directed by president obama. the rebalanced rows on the strengths of the entire u.s. government, including policy, diplomacy, trade and of course security and that the area i work in. for me, the rebalanced has been and continues to be the strength of the relationships, adjusting our military posture and presents and employ new capacities to ensure we continue to effectively and efficiently contribute to the stability of the asia-pacific as we protect u.s. national interests. of course the keys to success of the innovative access agreement, greatly increased exercises, rotational presence increases come efficient force posture in yeste
was booming in the united states, up 26%. that rise outstripped even the increase seen from china. german cars especially remained popular overseas. i of german exports continue to sell at this rate, they could reach a record 1.1 billion euros for 2012. >> how did companies react to the export news, and what does that mean for investors? our correspondence sent us this report from the frankfurt stock exchange. > germany's exporters are still reporting strong profits, but companies which mainly depend on the european markets are preparing for tougher times. truckmaker m.a.n. announced that it is planning to reduce capacity by ordering more than five dozen workers to work reduced hours. news like this limits the upward potential, just like the discussion in united states about tax increases and spending cuts. each time a solution between democrats and republicans seems to become a bit less probable. investors are getting nervous again, also here in frankfurt. >> let's take a quick look at some market numbers now. the dax closed just a tad down at 7435. euro stoxx 50 closed about 0.3% up. the dow
in boosting inflation ultimately. the euro/dollar, 1.3221. so for trading in asia, just how japan, china and the rest have been affected by fiscal cliff news, diedra morris is join onning us with plenty more. hi. >> hey, kelly. it was a bit of a rude awaking. a lot of these indexes were on their way to gains and then we had the fiscal cliff setback. we had news that john boehner's plan b failed. this all turned red and this is where we ended. the nikkei 225 coming back from that huge rally that we have seen over the last five weeks shedding 1%. the exporters hurt here because the dollar/yen was lower. it has regained some ground in the last few hours or so. the kospi shedding about 1%. blame politicians in the u.s. and blame heavyweight samsung. this accounts for some 20% of market value on the kospi index. down 4%. that hurt the broader markets. this is, of course, because eu regulators are poised to excuse samsung of breaking competition rules and filing competition patent lawsuits against samsung. greater chinese markets, shanghai more isolated from global happenings and fiscal cliff
the phrase suffering for your art. we found another example of that in china. snow sculptures put in hundreds of hours to carve masterpieces as part of a festival in the northeast in super cold conditions. >> it is -30 degrees celsius in this part of china and the sculptors are continuing to carve their masterpiece despite the plighting cold. >> i need to protect my face as much as possible. the cold weather and the uv light to make my face hurt. it will take about two weeks to return to normal after a go home. >> one of the works is a herd of stemmed -- of stallions. the kind this particular piece will be the largest in the world. this is another example of their icy art, a life-size to church, incredible detail by the incredibly dedicated. >> make sense of international news at bbc.com/news. >> funding for this presentation is made possible by the freeman foundation of new york, stowe, vermont, and honolulu. newman's own foundation. and union bank. >> at union bank, our relationship managers work hard to understand the industry you operate in, working to nurture new ventures and help provid
of rape. that's something they're trying to change. >> china has tightened its already strict controls on the internet. under the new measure, they can stop the transmission of any transmission deemed i legal. internet users are going to be required to register their real names when they sign up with network providers. chinese bloggers have exposed a number of corruption scandals involving government officials in recent years and that's despite already tight the 6-year-old girl who was abducted by her father and taken to pakistan is now on her way home to britain three years after she disappeared. she went missing after going to stay with her father, who then told her mother she would never see her again. it's believed that the dramatic discovery was due to a computer generated image of what she would look like now. that's the image. here's the report. >> the last time her mother saw her. for the last three years, she's had no proof that her daughter is still alive until now. the child's father took her out of the country and out of her mother's life. >> he left me a message to say i w
about china electric demand being strong. remember, they make coal machinery, depending upon how much electric demand there is in china, his orders go up. that's why i think people are surprised the stock eel not down big, given his concerns throughout the near term. >> comments, the buybacks continue. >> now, i begin to say, wait a second. one buyback, maybe -- too much coincidence here. you have the news out of joint global. i think people are starting to say this fourth quarter's an inflection point for china. less worried about inflation, more worried about pro-growth. cummins is a uniquely chinese story. so many truck engines go there. let's keep track of this. >> a lot of people say if you've got gdp growing again and inflation as low as it is, that is the sweet spot, that is where you always want to be. >> india came out with global stuff. coal, i know, we're only used to seeing coal phased out in this country. they love coal in china. i don't want to make a judgment on whether that's -- but they are huge coal plant builders there. huge. >> an important one to watch. we'll talk
sought in china just hours before the sandy hook massacre in the allen matter school. and man in china went into a school with a knife and stabbed 22 children. almost all of them but one survived because it was a knife and not a gun. >> it seems obvious, but maybe it is worth saying, a gun is a particular lethal method of damamamama human bodies, not ony d thehee frequenyy di, but also becec in an attack with a gun, a person running in an attack with a gun, it also means other people are less likely to intervene. there are many reasons why an attack with a gun is more lethal than an attack with a knife. and that is why, specifically, strong roles are justified to have on a weapon that is specifically made for killing >> rebecca, we only have a few questions. onlhave many the conceal and carried it, a new law that says students can carry on campus and teachers are afraid of giving students a bad grade. i know you have looked at other countries outside australia. how powerful in australia was the gun lobby? look at the nra. they are hiding their heads right now. their facebook pages down
on top of that would be very bad for american competitiveness. we don't want to send jobs to china and india but almost as if obama wants to do that. at least if we went over the cliff, we would get the sequester, which is the budget wonk term for automatic reductions in the growth of spending. melissa: absolutely but i'm not sure republicans are giving in as much as you think. if you drill down on the details, as soon as i saw 800 billion in new tax revenue, my immediate question did they give on the point of marginal rates and from the language it doesn't look like. more a tax code basically closes loopholes. they employ all the euphemisms to say you will get rid of deductions. sounds like that is where the 800 billion in new revenue is coming from. they didn't give on marginal rates at all. >> that is good news but only good news in the sense we're not traveling as fast in the wrong direction. you're talking about giving more money to the least competent people in america, the politicians in washington. you're talking about giving them the extra money so they could have bigger g
was the source of the of raw material for his silk works? >> it was raw silk from china. it was rob. it came from china and ultimately he would trade and imports from japan. raw silk is like he imported and converted into thread and that was turned into fabric. >> what does it look like? >> here is a silkworm cocoon. the moth is still inside. the manufacturing of silk is very complicated and the extraordinary process. this one a cocoon is wound was one strand of silk half a mile long but it is so fine it is barely perceptible and nowhere near enough shape to be used as the red. in a nutshell, fink of a pyramid and silk cocoons at the bottom the filaments are wound together into a layer and then another layer until you have one thread made of various silk filaments. it is silk that has been unwound from the cocoon and joined together part way up the pyramid that arrives in states in bundles they were called books. >> did they ship textile as well? >> yes. he began to manufacture silk threadfin in holyoke he would weave the thread into fabrics that enabled him to succeed because when he rebuilt the
at, given the outlook and not just the u.s. consumer, but now you talk about sales in china just started, there's a lot of catalyst and the stock is cheap. david: despite your pessimism of what might happen in the economy, you're optimistic about what's happening with homebuilders. yowe think this is a real burste are seeing, one that will last? >> i agree, pointed homebuilders enjoying a nice ride and you are seeing that, it was priced into the market probably two quarters ago, but it will continue and i think that part of the economy will help out over the homebuilders themselves but investors in the market. david: continued for how long? >> my sense is throughout 2013. you can really count on this resurgence from the home building sector. lori: gary, remaining time, what is your preferred asset allocation? >> right now we are allocating model the balanced portfolio to be about 43% equities split equally between domestic and foreign. we're about 15% traditional bonds, 30% non-traditional bonds. and we're about 10% of real assets, energy, precious metals. about 2% cash. lori: gr
said. his point was that the transformation of the world economy lifts four people in china and india out of poverty and into the middle class, and meanwhile one american drops out of the middle class, that's not such a bad trade, right? like four to one. i spoke to a cfo of a u.s. technology company, and this was like a really, a person who was really sort of charming and lovely life story. he was taiwanese-born, his parents were immigrants, and his parents told him and his brother when they immigrated that they were temporarily poor. i love that, you know, imagine that. we're going to be temporarily poor. and sure enough, he and his brother just like complete rock stars, both of them went to stuyvesant in new york. they were such avid members of the math club that now they fund it. one brother is -- yeah, exactly. one is in silicon valley, the other is derivatives on wall street. this brother, the cfo, his parents were really angry at him because he dropped out of a ph.d. program at stanford having gone to harvard to start becoming a plutocrat. so very hard working guy, very smart,
some money to fix it. >> number five, china. is china slowing or is china leading the world? we do know that china will be the biggest economy in the world by 2020, for sure by 2030. >> china. >> china. >> china. >> china. >> china. >> china also getting more than a few mentions during the presidential campaign, probably because it's pretty clear that china is both a competitor and a partner. >> number four, europe. the european union was fractured by too much debt and the austerity plans to fix it. that saga is far from over. number three, the housing market. finally, finally bottomed out. the combination of low home prices and continued record low mortgage rates set off a building and buying spree. well-healed investors began buying entire neighborhoods, but first-time buyers were also able to get a home of their own for the first time in years. as long as they had a hefty down payment. >> number two. cnn projects that barack obama will be re-elected president of the united states. >> the election. more than just about obama and romney, it was about socialism and capitalism, about spe
it varies by market. we saw significant growth in asia, particularly in china, double digit growth even though supply was growing fast. what we saw in europe and the u.s., we saw supply growth was restrained because there wasn't bank finance and there still isn't which means rev par is growing 6%, 7%, 8%. so it's been quite a strong market and total revenues have grown, as well. demand has grown, we've seen a robust business for the last three years and we've grown highway patrol ahead of the market which is something we try to do. >> i note that you're still expanding, as one would maybe anticipate now and asia is still a very important market. how much expansion are you doing there? >> well, the u.s. is our biggest market, about 60%. china is about 10% of our business. it's about 30% of our clients. for our companies, we have about 11% or 12% of the total pipeline in the world and effectively 30% of that is china. so china is now our second biggest market. is between -- let me get the years right. between '09 and '11, our business doubled there from $1 billion to $2 billion a year. it
vacuum cleaner. sucking into the united states the net exports of europe, japan, and lately china. thus providing exporters -- germany, japan, or china -- with the requisite demand necessary. to keep the factories going. so, the ever expanding trade deficit was not an accident. it was a very clever way of replacing one that surplus recycling system with another. the first one, it was one where america had a surplus and america decided instead of doing what germany is doing at the moment -- which is cutting its nose to spite its face, and thereby entering into recession by cutting, cutting, cutting -- volcker and kissinger initially, and then volcker as the head of the fed had a different idea. we are going to expand our dominance and our wealth by expanding our deficit and using our deficits to provide the rest of the world with the demand which is necessary to grow their economies, even at the expense of ours. and who is going to pay for the deficit? if i have an ever-expanding deficit, the bank tells me it is game over. but if you are the united states of america and you have the rese
and where is china all of this? >> so there are several different pieces. one of them going back to the economy, we used to have much higher practices than we do now. how were we able to have full employment on that? we did not have the system of the budget deficits what makes it so much harder and just to sort of duty had enough, it is the persistence of trade deficit least not have one and now we do and that is a big drag on the economy. which hasn't been better actually the trade deficit is actually significantly down but not all. we have had some that have become more competitive that is the front on which we need to work. the political debate hasn't kept up with the reality it's no longer the quarter of that anymore. it's the broadest of countries some that need to be worked on and the next president isn't just china bashing but what do we need to do have a world that is everybody trying to run a trade surplus which the government believes it is possible. [laughter] >> then there is this issue of trade and income inequality. and there's a similar level that presumably had re
tomorrow. >>> the world bank in the meantime is raising its 2013 economic growth forecast for china and for developing east asia. the organization says that the region remains resilient despite the lackluster performance of the global economy. the world bank sees china expanding by 8.4% next year. it's expecting that it will be fueled by fiscal stimulus and the faster implementation of large investment projects. today's forecast is higher than an earlier one that was sited in a world bank report in october. 8.4%, not bad both if you can get it. >>> speaking of china, the united states is moving forward with plans to slap steep anti-dumping duties on wind turbine towers that are imported from china at prices that are deemed unfairly low. the news from the commerce department comes as u.s. officials welcomed a high-level chinese delegation for trade and economic talks. the u.s. trade panel has final approval over the duties and is expected to vote on the case in late january. >>> in corporate news, ubs hit with a $1.5 million fine today. that will add up, a few more of those. the swis
china, southeast asia or from as far as the u.s., norway, etcetera in buying korean won bonds and most likely these are from the sector due to their diversification needs and attracted by the korean bond markets. and if you look at the yields, although it has already come lower quite a lot, but if you compared that with treasury yields, that is very attractive. >> we'll leave it there. thank you very much. >>> now if you're just joining us here on "worldwide exchange," these are your headlines. a union at last. the eu finance ministers hand the ecb the power to supervisor more than 150 banks following another late nightmare thon session in brussels. the euro bounces on the news, but stocks in europe trade lower as ben bernanke warns monetary policy may not be enough to offset the damage if the u.s. goes over the fiscal cliff. >>> and the u.s. takes another surprising step tying interest rates to the u.s. unemployment rate. >>> plus, investors chairing danone plan to save $2 million over the next two years as they try to offset a slump in southern europe. >>> straight ahead on the progr
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